#replay 97 - Identifying Orderblock

26 thg 11, 2022

A monthly OB identified on the chart back in March 2020. We will refine it in lower time frame.

26 thg 11, 2022

Ghi chú

Price validated the orderblock back in April.

26 thg 11, 2022

Ghi chú

Switch to weekly chart.
We would love to see a violation over previous bar's high, and then refine it as a bullish orderblock.

26 thg 11, 2022

Ghi chú

However, the reaction after it didn't play well. We would love to see a breakthrough of 2 - 3x of the previous down candle's range between O and C. So we'll seek more opportunities for another bar or in another month.

26 thg 11, 2022

Ghi chú

Let's firstly examine another month. As the figure shows, the monthly orderblock was not cross any support level. Thus, it's not a orderblock by definition.

26 thg 11, 2022

Ghi chú

So back to past month we examined before. We can see that a potential orderblock in lower time frame according to this chart even though it's not validated. We'll switch to LTF to check further details.

26 thg 11, 2022

Ghi chú

In lower time frame, we see that a chart that successfully clear the past down candle and is 2 - 3x higher than it. Also it was running into a monthly orderblock to seek liquidity on a monthly chart.